News Brief | September 2015
ReNew Power in talks with PE firm to raise $200 million
ReNew Power Ventures Pvt. Ltd, in which Goldman Sachs Group Inc. has a majority stake, is in advanced talks with Switzerland-based private equity (PE) firm Partners Group AG to raise $150-200 million to generate 400 MW of solar power.
Founded by Sumant Sinha in 2011, ReNew Power has close to 600 MW of installed and operational clean energy capacity across Maharashtra, Rajasthan, Karnataka, Gujarat, Madhya Pradesh and Haryana.
PE firms are increasingly interested in India, with the govt. target set for 100 GW of solar and 60 GW of wind power by 2022.
ReNew Power has a portfolio of 14 operational wind power projects located in four states that are capable of generating close to 545 MW, besides a pipeline of close to 250 MW in solar power projects across India.